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Financial News: Swedish Economy Expands At Steady Pace In Q1

Swedish Economy Expands At Steady Pace In Q1

05/30/2018 - 06:17:00 (RTTNews)

(RTTNews) - Sweden's economic growth remained stable in the three months ended March, figures from Statistics Sweden showed Wednesday.

Gross domestic product advanced a seasonally adjusted 0.7 percent sequentially in the first quarter, the same rate of expansion as in the previous quarter. The expected growth was 0.5 percent.

During the third quarter of 2017, the rate of growth was 0.6 percent.

On the expenditure side, household consumption grew 0.8 percent over the quarter and gross fixed capital formation rose by 2.8 percent.

Exports dropped 2.0 percent, while imports increased by 1.0 percent.

On a yearly basis, GDP growth improved to 3.3 percent in the March quarter from 2.9 percent in the December quarter. That was in line with economists' expectations.

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